MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — VSE juniors ride golden wave

The Vancouver Stock Exchange composite index shot up 10.11 points, or 2.5%, during the week ended Sept. 28 to close at 416.90. The mining index soared 23.42 points, or 8.6%, to finish the week at 294.64.

Meanwhile, the combined value of the Albert Stock Exchange, tacked on 34.68 points, or 1.24%, to close at 2,828.01.

Conquistador Mines almost doubled its value, closing at 37 cents, up 15 cents. Renewed interest in the company may be a direct result of the upturn in the gold market. Conquistador holds the Marmato gold-silver project in Colombia. The estimated resource stands at 6.4 million oz. gold and 19.2 million oz. silver contained in 100 million tonnes averaging 1.99 grams gold and 6 grams silver per tonne, based on a cutoff grade of 1.25 grams per tonne.

Chapleau Resources closed at $1.40, up 13 cents. The company has initiated a diamond drill program on the Cruz property, near Trail, B.C. At least two holes will test two Sullivan-type vent structures.

Eaglecrest Explorations jumped 13 cents to close at 67 cents. The company has completed nine holes, or 880 metres, of a 2,500-metre drill program on its San Simon gold property in Bolivia. A 1-km stepout hole intersected varying widths of Paititi-style quartz-vein stockwork.

Gabriel Resources is completing a prefeasibility study on its 80%-held Rosia Montana deposit in Romania. At last report, the deposit had a resource of 144 million tonnes grading 1.7 grams gold and 10 grams silver per tonne. Gabriel closed at $1.68, up 46 cents.

Great Basin Gold continued its climb up the speculative ladder. The company is in the midst of a 50,000-ft. drill program on its Ivanhoe gold property in Nevada. Great Basin rose 35 cents to finish the week at $2.55.

Winspear Resources tacked on 31 cents to close at $2.59. The junior negotiated a $14-million private placement, proceeds from which will be used to explore the Camsell Lake diamond property in the Northwest Territories. Winspear holds a 67.76% operating interest in the property, with the remainder held by Toronto-listed Aber Resources.

Polymet Mining rose 46 cents to close at $1.68. The company has begun an ore reserve drilling program on its NorthMet polymetallic property in Minnesota.

Arizona Star shot up 38 cents to finish at $1.14. Arizona Star holds a 25% interest in the Cerro Casale gold deposit in northern Chile, where its partners include Toronto-listed Bema Gold (24%) and Placer Dome (51%). The resource is pegged at 1.1 billion tonnes grading 0.71 gram gold and 0.26% copper.